Brokerages Expect Frontline Ltd. (NYSE:FRO) Will Announce Earnings of -$0.15 Per Share

Wall Street brokerages expect Frontline Ltd. (NYSE:FRO) to post earnings per share (EPS) of ($0.15) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Frontline’s earnings. Frontline reported earnings per share of $0.29 in the same quarter last year, which would suggest a negative year-over-year growth rate of 151.7%. The firm is expected to issue its next earnings report on Wednesday, November 24th.

On average, analysts expect that Frontline will report full-year earnings of ($0.02) per share for the current financial year, with EPS estimates ranging from ($0.13) to $0.06. For the next year, analysts forecast that the company will post earnings of $1.28 per share, with EPS estimates ranging from $1.27 to $1.30. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Frontline.

Frontline (NYSE:FRO) last released its quarterly earnings results on Wednesday, August 25th. The shipping company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.02). Frontline had a net margin of 6.38% and a return on equity of 1.34%. The business had revenue of $170.00 million for the quarter, compared to the consensus estimate of $94.98 million. During the same period in the previous year, the company earned $1.04 EPS.

FRO has been the topic of several research analyst reports. Evercore ISI reissued a “buy” rating on shares of Frontline in a report on Sunday, August 29th. Danske raised Frontline from a “hold” rating to a “buy” rating and set a $9.70 target price on the stock in a report on Wednesday, June 30th. Finally, Zacks Investment Research upgraded Frontline from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Frontline presently has a consensus rating of “Hold” and a consensus target price of $8.18.

Institutional investors and hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its position in Frontline by 54.5% during the third quarter. DekaBank Deutsche Girozentrale now owns 5,158 shares of the shipping company’s stock valued at $47,000 after purchasing an additional 1,819 shares during the period. Advisory Services Network LLC purchased a new stake in Frontline during the 2nd quarter valued at about $71,000. Principal Financial Group Inc. purchased a new stake in Frontline during the 1st quarter valued at about $87,000. Fox Run Management L.L.C. purchased a new stake in shares of Frontline in the 1st quarter valued at approximately $92,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Frontline in the 1st quarter valued at approximately $108,000. 21.56% of the stock is currently owned by hedge funds and other institutional investors.

Frontline stock opened at $9.00 on Monday. The company has a market capitalization of $1.78 billion, a P/E ratio of 34.62 and a beta of 0.33. Frontline has a twelve month low of $5.28 and a twelve month high of $9.86. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 1.20. The stock’s 50 day moving average is $8.14 and its 200 day moving average is $8.10.

Frontline Company Profile

Frontline Ltd. is an international shipping company, which engages in the ownership and operation of oil and product tankers. It also offers the seaborne transportation of crude oil and oil products. The company was founded in 1985 and is headquartered in Hamilton, Bermuda.

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